Bajaj Finance mulls raising Rs 8,500 cr via QIP; stock up 2%

Money Control | Sep 18, 2019 at 9:40 AM
  • Shares of Bajaj Finance rose 2.5 percent in early trade on September 18 after the company’s board approved the plan to raise Rs 8,500 crore.
  • The company board, in its meeting held on September 17, approved raising of capital through a qualified institutions placement (QIP) for an aggregate amount not exceeding Rs 8,500 crore by issue of equity shares and/or eligible securities.
  • The board of directors have also authorised a special committee of the board to decide, the terms and conditions of the proposed QIP, and an allotment committee, for allotment of equity shares and/or eligible securities, pursuant to the QIP.